• BRICS to create blockchain-based payment system: Kremlin aide

    Moscow, Russia – BRICS will work to create an independent payment system based on digital currencies and blockchain, Kremlin aide Yury Ushakov said on Tuesday. "We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as...
  • UAE presses for ‘sustainable development policies’ at BRICS meeting in Brazil

    Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development policies, effective financing solutions and an advanced digital infrastructure. This was stated by Mohamed Hadi Al Hussaini, UAE's Minister of State for Financial Affairs at the first BRICS finance ministers...
  • Arab League organizes workshop to discuss BRICS role in MENA region

    Cairo, Egypt--The Arab League (AL) on Sunday organized a workshop in Cairo to discuss the role of BRICS for African and Middle Eastern countries. Titled BRICS: Potential Roles, Challenges Facing African and Middle Eastern Countries, the one-day workshop discussed new memberships, expectations, and needs related to the mechanism. New BRICS...
  • Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report

    DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire population is expected to rise by 85 percent over the next 10 years, a report said.   There are currently 1.6 million individuals with investable assets of over US$1 million...
  • Saudi Arabia not part of BRICS yet, still considering invite: Report

    Riyadh, Saudi Arabia -- Saudi Arabia remains undecided on accepting the BRICS bloc's invitation to join, despite initial claims of its accession. South Africa's Foreign Minister Naledi Pandor's recently asserted the kingdom's membership, but a Saudi official told Reuters that the Kingdom has not yet responded to the invitation to...
  • BRICS to launch bonds worth US$28bn in local currencies

    Tehran, Iran-- BRICS is preparing to launch new bonds in global markets, which will be available in local currencies rather than in the US dollar The BRICS bank, known as the New Development Bank (NDB), will soon release the bonds called ‘Maharaja Bonds’ worth $28 billion, IRNA reported on Sunday...
  • GCC in the crossfire amid growing US-China tech war

    Amid ongoing US-China technological rivalry, Gulf countries face crucial choices in balancing their economic and technological relations with both superpowers.
  • GDP of new expanded BRICS to exceed that of G7 countries: Russia

    Moscow, Russia - The aggregate GDP of the BRICS countries after the accession of its new members in 2024 will significantly exceed that of the Group of Seven (G7) countries, Russian Foreign Minister Sergey Lavrov said at a press conference following talks with his Indian counterpart, Subrahmanyam Jaishankar, Russian news...
  • GCC in the crossfire amid growing US-China tech war

    Amid ongoing US-China technological rivalry, Gulf countries face crucial choices in balancing their economic and technological relations with both superpowers.
  • Pakistan applies for BRICS membership in 2024: envoy to Russia

    Moscow, Russia - Pakistan has filed an application to join the BRICS group of nations in 2024 and is counting on Russia’s assistance during the membership process, the country’s newly appointed Ambassador to Russia Muhammad Khalid Jamali has told Russian news agency TASS in an interview. When asked whether the...
  • BRICS urges immediate ceasefire in Gaza, S.Africa decries ‘genocide’

    "The collective punishment of Palestinian civilians through the unlawful use of force by Israel is a war crime. The deliberate denial of medicine, fuel, food and water to the residents of Gaza is tantamount to genocide," said South African President Cyril Ramaphosa.
  • Putin to speak at online BRICS summit on Middle East

    Moscow, Russia - President Vladimir Putin will take part in an online BRICS summit on the escalation of the situation in the Middle East, the Kremlin press service said on Monday. "On November 21, Russian President Vladimir Putin will take part in an extraordinary BRICS summit (in the videoconference format)...
  • Iran and Russia diplomats hold discussions on BRICS

    Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities in the spheres of trade, finance and economy. Mahdi Safari, Iran's Deputy Foreign Minister for Economic Diplomacy hosted the Deputy Minister of Foreign Affairs of the Russian Federation and the country's special envoy for BRICS affairs...
  • BRICS group poised to shape global economy’s future

    “This potential is further amplified by its vast human resources, and cutting-edge technological and industrial capabilities,” he adds, emphasizing that BRICS could shift global focus to urgent matters like climate change, energy security, innovation, and the promotion of investments in emerging technologies.
  • Iran exports goods worth US$9.1bn to BRICS nations from March to August

    Tehran, Iran--Iran has exported 27.7 million tons of goods worth $9.1 billion to BRICS member countries from March 21-August 21, 2023). In the first five months of this year of 1402 in the Iranian calendar nearly 37 million tons of goods worth $25.1 billion were exchanged between Iran and current...
  • Expansion may offer limited economic boost to BRICS

    The anticipated inclusion of six nations into BRICS, including Saudi Arabia and UAE, is expected to ease tensions among them, and foster increased bilateral collaboration.
  • Saudi crown prince says ready for economic partnership with BRICS

    DUBAI, UAE – Saudi Arabian Crown Prince Mohammed bin Salman in a telephonic conversation with Russian President Vladimir Putin has expressed readiness to build an economic partnership with the BRICS countries. The Saudi Press Agency said the two sides had discussed various issues at the BRICS summit, where Saudi Arabia...
  • Bank of China opens in Riyadh

    It is expected to speed up the use of yuan in trade.
  • Xi’s G20 no-show hints at China’s shifting diplomatic priorities

    Beijing, China - President Xi Jinping's unexplained decision to snub the G20 summit underlines Beijing's frayed ties with other major powers as well as growing secrecy at the top of the ruling Communist Party, China analysts told AFP. Beijing's foreign ministry said Monday that Premier Li Qiang would join the leaders...
  • BRICS’ share in global GDP to rise to 30% from January 2024: Indian bank

    New Delhi, India -  The share of the BRICS (Brazil, Russia, India, China, South Africa) group in the global Gross Domestic Product (GDP) is set to increase from its current 26% to 30% starting January 2024, State Bank of India (SBI) said in its report.  The growth is attributed to...
  • Chinese diplomat, Arab Parliament speaker discuss Middle East

    BEIJING, CHINA – The director of China’s Office of the Central Commission for Foreign Affairs met with the speaker of the Arab Parliament Adel Al Asoomi here. Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, said that Beijing is willing to...
  • BRICS, SCO membership to reduce West’s sanctions effect, says Iran

    "Given our numerous capabilities, we consider Iran’s membership in BRICS and the SCO as well as participation in other regional alliances very effective," Raisi stressed.
  • West has failed to isolate Iran, says President Ebrahim Raisi

    Raisi was referring to sanctions imposed on Iran since the United States torpedoed the nuclear deal in 2018, as well as protests that erupted in September 2022 over a young woman's death in custody.
  • Iran hopes joining BRICS likely to enhance trade and business

    Tehran, Iran - Iran’s membership in the BRICS group will lead to the promotion of exports and trade activities, an official was quoted as saying by local media reports. Deputy Chairman of Iran Chamber of Cooperatives for Legal Affairs Arsalan Ghasemi said that to tackle economic sanctions by the West...
  • BRICS to coordinate approaches with new members within UN, G20: Lavrov

    The BRICS summit, which held in Johannesburg from Aug 22-24 agreed to admit Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates as new members from Jan 1, 2024.
  • BRICS expansion points to a shift in global dynamics

    The Middle East, with its vast resources and strategic position, can play a crucial role in BRICS' vision of a more equitable and democratic global order as the BRICS move to include countries such as Saudi Arabia and the UAE can further reduce the alliance's dependence on Western financial institutions,...
  • BRICS secures 47% global oil with Saudi Arabia, UAE, Iran inclusion

    Tehran, Iran - The inclusion of Saudi Arabia, the UAE, and Iran, will significantly increase BRICS’ weight in the oil market, as per calculations based on 2022 OPEC data, reported by InfoTech news outlet on Thursday. Together with the existing participants, Russia and Brazil, these countries jointly command 39% of...
  • Algerian, South African ministers discuss ways to boost economic cooperation

    JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to enhance economic cooperation between the two countries. During the meeting on Thursday, the two ministers discussed the available opportunities to enhance trade exchange and joint investment, with the aim of...
  • Iran’s BRICS membership to strengthen group, says XI

    TEHRAN/ JOHANNESBURG, IRAN/ SOUTH AFRICA - The Iranian and Chinese presidents stressed the need to bolster bilateral cooperation and the trend of multilateralism especially within the framework of BRICS. Iranian President Ebrahim Raisi held talks with his Chinese counterpart Xi Jinping on the sidelines of the BRICS+ Summit on Thursday to...
  • Russia’s goal is to end war West unleashed in Ukraine: Putin

    Johannesburg, South Africa -- Russia's special military operation pursues the goal of ending the war in Ukraine unleashed by a number of Western countries and their satellites, Russian President Vladimir Putin said at a meeting of BRICS leaders. "Russia has decided to support the people who are fighting for their...
  • Indonesia president to participate in BRICS summit in South Africa

    Jakarta, Indonesia--Indonesian President Joko Widodo departed for South Africa on Sunday to attend the BRICS summit in Johannesburg amid speculation that the country could join the group as its latest member. The meeting, which brings together major emerging economies countries led by Brazil, Russia, India, China, and South Africa, will be...
  • In favor of Iran joining BRICS, says South Africa

    TEHRAN, IRAN – Pretoria fully supports Tehran joining BRICS, South African President Cyril Ramaphosa said at a meeting with Iranian Foreign Minister Hossein Amir Abdollahian. "South Africa is interested in Iran being accepted as a friendly country by the BRICS," Ramaphosa said as quoted by Mehr News. The South African...
  • BRICS will benefit greatly with UAE, Saudi Arabia as members: Expert

    Dubai, UAE --  Granting the United Arab Emirates the status of a member of BRICS group (Brazil, Russia, India, China, South Africa) will allow the association to push Western countries towards accepting changes in the system of international relations, especially with regard to trade and de-dollarization, an international affairs expert...
  • Chinese president vows solid ties with Algeria, eyes energy supply

    China's President Xi Jinping has pledged stronger ties with Algeria, highlighting the importance of their comprehensive strategic partnership. Algeria, Africa's largest natural gas exporter, has been seeking to join the BRICS economic group, and China has shown support for this goal.
  • Ukraine grain deal failed to achieve objective, says Putin

    Russian President Vladimir Putin said the main objective of the deal that allowed Ukrainian grain exports to resume was not achieved, in a call with his South African counterpart Cyril Ramaphosa. The deal that eased fears of a global food crisis sparked by the offensive in Ukraine is due to...
  • Iran to join Shanghai alliance with China, Russia next week: Lavrov

    Moscow, Russia -- Iran will be formally approved as a member of the regional Shanghai Cooperation Organization with China, Russia and Central Asian countries, Russian Foreign Minister Sergei Lavrov said Friday. "At the meeting of heads of state on July 4, the full membership of Iran will be approved," Lavrov said...
  • Iran’s annual trade with BRICS rises by 14% to $38.4bn

    Tehran, Iran – Iran’s trade with BRICS member states reached 47.99 million tons worth $38.43 billion in fiscal 2022-23. In fiscal 2022–23, Iran's trade with the BRICS nations—Brazil, Russia, India, China, and South Africa—amounted to 47.99 million tonnes worth $38.43 billion, up 14 percent in value and 0.81 percent in...
  • Algeria eyeing entry into Russia-linked BRICS group

    Algerian President Abdelmadjid Tebboune has suggested that his country, Africa's largest natural gas exporter, could join the BRICS economic group that includes Russia and China.